Roth MKM lowered the firm’s price target on Enphase Energy (ENPH) to $170 from $185 and keeps a Buy rating on the shares ahead of its Q3 results. Recent checks suggest there may be some downside risk to the firm’s U.S. residential growth outlook of down 5% and the trough could be later than Q1 of 2024, the analyst tells investors in a research note, adding that a distributor ramping Tesla (TSLA) inverter-only sales could also weigh on shares in the near-term.
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